Butte semi-weekly miner., 1887-03-30

subserve the purpose for which they wer
instituted, it becomes the imperative dut,
of society to modify or abrogate them.
Property rights and the laws to enforce
those rights having been thus established
it would naturally follow that the desir
to better ones condition by barter ant
traffic would develop the system of com
merce as we now find it existing. It vii
also appear as a self-evident proposition
that the Individual has natural right tc
forego the possession of any property O
which he may have acquired the owner
ship, upon receiving such reward as will
IN his opinion, compensate him for It's rse
And it is upon the principle that interest
rent and profit are founded. / desire ia
call especial attention to the fact that in.
terest, rent and profit are the same in
nature and origin. because this most OBJ.
vious fact seems to escape the notice OF
most writer's on economy. And vet the
mere statement that rent is the interest on
the price OF q piece OF realty, or that
profit is the interest which the capital en-
ployed in mercantile operations can be
made to produce, is too plainly true to ad-
NIT OF argument. 1t is furthermore evi.
dent that an individual having surplus
capital at his command will seek to invest
it in that one of the three methods indi.
cate 1 which promises the best returns for
his investment, having regard at the same
time to the amount of care and risk in
volved. This will, of course, render and
maintain the rates OF rent, interest and
profit approximately equal.
So the fact that capital is, by custom
and faw. empowered to exact usury for its
employment, is traceable all the evils of
monopoly and Capitalization, against
which labor is clamoring at the present
time, and it is this attribute of capital
alone which enables it to oppress the la
borer and despoil him of his earnings.
Accordingly We find many of those who
have written in the interest of labor adyo.
eating the abrogation of all laws for the
collection of rent and interest. as T. K,
Ingalls,, for instance, or demanding the en-
actment OF the most stringent laws against
usury, like Henry Clay Dean. Just as the
writer may happen to favor the extension
OF individual freedom, or believe in the
omnipotence OF legislative authority, The
practice OF usury or interest, however ia
one which has it's origin in the conscious
recognition OF the owners natural right to
compensation for the use of his property,
and, having been strengthened in it's posi-
ton by many thousands of years of Gus.
tom, and fortified by countless enactments
II positive legislation, is too intimately in. |
'srwoven with the habits of mankind to be |
by any measure OF statutory |
'eform.
Not only have the surplus earnings of the
worlds labor been continually added to the
worlds capital. but land, water, patent
lights, franchises and privileges-all things
short, which can be made the subject of
monopoly, as well as debts, national, State,
corporate and individual-have
'een capitalized and accorded the privilege
u drawing interest. All this interest is in
he nature of direct tax upon industry,
. it must all be paid by the producers be-
ore labor can receive compensation out of
ts own products.
The value of the property in the United
tates, estimated for the year 1885, and al
owing Tor the same rate of increase be-
ween 1880 and 1855 as was disclosed by
ne census for the period between 1870 and
$50. ia in round numbers, $55, ,OOO, ,OOO.-
90. The amount of the indebtedness of
arious kinds existing in this country ia
bout $12 900, 900, 900, or within a frac-
on OF 22 per cent of the total valuation of
The total indebtedness of the
orld bears about the same ratio to the
I'm total OF the worlds property; that is
'mething like $4,000. 600, 900 Of debt in
total property valuation of about $780,
An attempt to reckon this
'bt at compound interest will demonstrate 9
e fact that but a comparatively short
me would be required for it to draw to it.
If all the wealth of the world. As a mat h
r OF fact, the Indebtedness, both in this a
untry and in Eui ope is increasing in a t
uch greater ratio than is material wealth. Il
The question Of the currency is also init. 7
ately bound mp with the labor problem CT
such manner that complete solution Il
one will solve the other. Organized ii
ciety is the highest form OF cooperation tt
tn in production and distribution, and ol
s to the interest of each individual and fu
society as whole, that the exchange of wi
'ducts should be a. free as possible th
m restraint OF any kind. That lde